Equitable Holdings Inc. Makes New Investment in Cintas Corporation $CTAS

Equitable Holdings Inc. purchased a new stake in Cintas Corporation (NASDAQ:CTAS) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 9,385 shares of the business services provider’s stock, valued at approximately $1,596,000.

A number of other hedge funds also recently made changes to their positions in the business. BlackRock Inc. acquired a new stake in shares of Cintas during the 2nd quarter valued at about $4,520,425,000. Norges Bank acquired a new position in Cintas in the fourth quarter worth about $923,672,000. Bank of New York Mellon Corp acquired a new position in Cintas in the second quarter worth about $644,334,000. Legal & General Group Plc bought a new position in Cintas during the second quarter worth about $386,159,000. Finally, Bank of America Corp DE acquired a new stake in Cintas during the second quarter valued at approximately $233,111,000. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Price Performance

Shares of Cintas stock opened at $204.18 on Friday. The stock has a market capitalization of $81.71 billion, a price-to-earnings ratio of 54.59, a P/E/G ratio of 3.30 and a beta of 0.92. The firm’s 50-day moving average price is $194.43 and its two-hundred day moving average price is $185.51. The company has a current ratio of 1.43, a quick ratio of 1.27 and a debt-to-equity ratio of 0.28. Cintas Corporation has a 1-year low of $161.16 and a 1-year high of $219.16.

Cintas (NASDAQ:CTAS) last posted its earnings results on Wednesday, July 15th. The business services provider reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.05. The company had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.87 billion. Cintas had a net margin of 17.75% and a return on equity of 42.05%. Cintas’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.09 earnings per share. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. On average, equities analysts predict that Cintas Corporation will post 5.49 earnings per share for the current fiscal year.

Cintas Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.0%. The ex-dividend date is Friday, August 14th. This is a positive change from Cintas’s previous quarterly dividend of $0.45. Cintas’s dividend payout ratio is presently 55.61%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $206.00 price objective on shares of Cintas in a research note on Thursday, July 16th. Bank of America upgraded Cintas from a “neutral” rating to a “buy” rating and raised their target price for the stock from $200.00 to $230.00 in a research report on Thursday, July 16th. Argus upgraded Cintas to a “strong-buy” rating in a research report on Friday, July 17th. UBS Group reiterated a “buy” rating and set a $230.00 price objective (up from $228.00) on shares of Cintas in a research note on Thursday, July 16th. Finally, Weiss Ratings raised Cintas from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $212.31.

Cintas Company Profile

Cintas Corporation (NASDAQ: CTAS) is a provider of business services and products focused on workplace appearance, safety and facility maintenance. The company is best known for its uniform rental and corporate apparel programs, which include rental, leasing and direct-purchase options, laundering and garment repair. Cintas markets its services to a wide range of end-users, including manufacturing, food service, healthcare, hospitality, retail and government customers.

Beyond uniforms, Cintas offers a suite of facility services and products designed to help organizations maintain clean, safe and compliant workplaces.